Signs of recovery from the Chinese luxury market are condensed because fashion brands report encouraging results for 2024.
Moncler, the Italian luxury cloister, achieved annual turnover of 2.7 billion euros, which corresponds to a currency-adjusted increase of 8 percent compared to 2023. The Asia-Pacific region was an important growth driver and expanded to current exchange rates by 7 percent to 1.37 billion euros, which according to the company is primarily due to a “return to a solid two-digit growth in mainland china”.
Moncler’s recovery in China marks a clear trend reversal after the difficult environment of the past two years. The French luxury group kering-despite a decline in total sales by 24 percent in 2024-recorded signs of resistance in the Asian-Pacific. In mainland china, the retail turnover of the flagship brands Gucci, Saint Laurent and Bottega Veneta easily improved, which indicates a gradual recovery of consumers: interior demand.
Trend reversal in China
Crocs, the US brand for leisure shoes, also signaled a positive turn in her Chinese business. The results of the fourth quarter showed a strong international dynamic, with global sales rose by $ 291 million (around 277 million euros). China’s return to growth was a key factor that reflects the general optimism regarding the recovery of the Chinese consumer: inner market.
Since the Chinese consumers are gradually returning from pandemic to their consumption habits, fashion brands position themselves to benefit from this important market. With the return of tourism and the improvement of the trust of consumers: Inside, many luxury and fashion companies carefully look at sustainable growth in 2025 and beyond.
This article previously appeared on fashionunited.uk and was used with digital tools translated.
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